Zegona Communications (LON:ZEG) Sets New 52-Week High – Here’s What Happened

Zegona Communications plc (LON:ZEG)’s share price hit a new 52-week high on Thursday . The stock traded as high as GBX 439.88 ($5.48) and last traded at GBX 438 ($5.45), with a volume of 1414928 shares trading hands. The stock had previously closed at GBX 414 ($5.15).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target on shares of Zegona Communications from GBX 945 ($11.77) to GBX 825 ($10.27) and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Zegona Communications Trading Up 5.8 %

The company has a 50 day moving average of GBX 374.32 and a 200 day moving average of GBX 349.71. The firm has a market cap of £3.08 billion, a price-to-earnings ratio of 4,866.67 and a beta of 2.80. The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22.

Insider Activity

In other Zegona Communications news, insider Richard Williams acquired 12,363 shares of the business’s stock in a transaction on Monday, January 13th. The stock was purchased at an average price of GBX 404 ($5.03) per share, for a total transaction of £49,946.52 ($62,184.41). Also, insider Ashley G. Martin acquired 12,750 shares of Zegona Communications stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of GBX 330 ($4.11) per share, for a total transaction of £42,075 ($52,384.21). 74.68% of the stock is owned by corporate insiders.

About Zegona Communications

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.